Podcast
Questions and Answers
What key aspect must a company's employees embody for a brand's positioning to take hold effectively?
What key aspect must a company's employees embody for a brand's positioning to take hold effectively?
- Social media engagement
- Team collaboration
- Customer-centric focus (correct)
- Strong sales techniques
What is a crucial action companies should take to support their branding efforts according to the content?
What is a crucial action companies should take to support their branding efforts according to the content?
- Cut prices significantly
- Increase advertising spend
- Diversify product lines
- Train and encourage distributors (correct)
What challenge arises due to the inevitability of product decline?
What challenge arises due to the inevitability of product decline?
- Market saturation analysis
- Customer loyalty maintenance
- New product development (correct)
- Competitive pricing strategies
What should companies do periodically to assess their brands?
What should companies do periodically to assess their brands?
In what way can companies enhance their product offerings?
In what way can companies enhance their product offerings?
What indicates a brand may need rebranding or repositioning?
What indicates a brand may need rebranding or repositioning?
What is often the first step in the product life cycle?
What is often the first step in the product life cycle?
Why must firms adapt their marketing strategies throughout a product's life cycle?
Why must firms adapt their marketing strategies throughout a product's life cycle?
Which of the following is NOT considered a product as defined in the content?
Which of the following is NOT considered a product as defined in the content?
What is the primary characteristic of services as products?
What is the primary characteristic of services as products?
What distinguishes experiences from traditional product offerings?
What distinguishes experiences from traditional product offerings?
In a market offering that consists solely of a service, what is the key focus?
In a market offering that consists solely of a service, what is the key focus?
How has the trend in commoditization impacted companies' strategies?
How has the trend in commoditization impacted companies' strategies?
Which of the following best describes a market offering that includes both goods and services?
Which of the following best describes a market offering that includes both goods and services?
What is the main factor that influences the planning of a marketing mix according to the content?
What is the main factor that influences the planning of a marketing mix according to the content?
Which example illustrates a pure tangible good?
Which example illustrates a pure tangible good?
What does the category of 'supplies' in industrial products include?
What does the category of 'supplies' in industrial products include?
How are business services typically supplied?
How are business services typically supplied?
What is the primary purpose of organization marketing?
What is the primary purpose of organization marketing?
Which of the following is a key focus of Kaiser Permanente's 'Thrive' campaign?
Which of the following is a key focus of Kaiser Permanente's 'Thrive' campaign?
Person marketing is primarily aimed at which of the following?
Person marketing is primarily aimed at which of the following?
What type of items are generally included under repair and maintenance supplies?
What type of items are generally included under repair and maintenance supplies?
What is a characteristic of convenience products within the industrial field?
What is a characteristic of convenience products within the industrial field?
Which of the following statements correctly describes organization marketing?
Which of the following statements correctly describes organization marketing?
Flashcards
Brand Positioning
Brand Positioning
How a brand is perceived by consumers in the market compared to competitors.
Internal Brand Building
Internal Brand Building
Activities to ensure employees understand and are committed to the brand's promise and values.
Brand Audit
Brand Audit
A periodic review of a brand's strengths and weaknesses, including its position and consumer perception.
New Product Development
New Product Development
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Product Life Cycle
Product Life Cycle
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Product Life Cycle Challenges
Product Life Cycle Challenges
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New Product Acquisition
New Product Acquisition
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Consumer Touch Points
Consumer Touch Points
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Product Definition
Product Definition
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Product Types
Product Types
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Service Definition
Service Definition
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Pure Tangible Good
Pure Tangible Good
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Pure Service
Pure Service
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Market Offering
Market Offering
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Customer Experience
Customer Experience
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Commoditized Products
Commoditized Products
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Industrial Supplies
Industrial Supplies
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Business Services
Business Services
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Organization Marketing
Organization Marketing
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Person Marketing
Person Marketing
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Market Offerings
Market Offerings
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Organization
Organization
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Marketing campaigns
Marketing campaigns
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Public relations
Public relations
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Study Notes
Products, Services, and Brands
- A product is anything offered to a market for attention, acquisition, use, or consumption to satisfy a want or need.
- Products include tangible goods, services, events, persons, places, organizations, and ideas.
- Services are intangible activities, benefits, or satisfactions offered for sale; they don't result in the ownership of anything.
- Products are a key element of a market offering, creating value for target customers; this builds profitable relationships.
- Each level of product adds customer value: core customer value (What is the buyer really buying?), actual product (features, design, quality, brand, packaging), and augmented product (services and benefits like warranties).
Levels of Product and Services
- Product planners think about products and services at three levels to add customer value: core customer value, actual product, and augmented product.
Product Classifications
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Consumer Products are purchased for personal use and are categorized as:
- Convenience Products: Frequently bought, immediately, with minimal comparison. (e.g., laundry detergent, candy)
- Shopping Products: Infrequently bought, compared carefully on suitability, quality, price, and style. (e.g., furniture, clothing)
- Specialty Products: Unique characteristics or brand identification; significant effort made by buyers. (e.g., cars, specific brands of electronics)
- Unsought Products: Consumer either doesn't know about or is unaware of buying possibilities. (e.g., life insurance, blood donations)
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Industrial Products: Bought for further processing or for use in conducting a business.
- Materials and parts: Raw materials (farm or natural) and component materials/parts.
- Capital items: Major purchases (buildings, equipment) used in production.
- Supplies and services: Operating supplies and repair/maintenance items. and business services.
Other Offerings
- Organizations: Marketers often promote organizations (e.g., charities, schools, governments)
- Persons: Activities to influence attitudes toward specific people (e.g., politicians, celebrities)
- Places: Activities to influence attitudes toward a place, location, city, or state
- Ideas: Marketers can use marketing principles to promote thoughts, actions, or beliefs
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